Bitcoin ($ BTC) Price on track for biggest weekly gain in 9 months, data shows

Data show that the price of the flagship cryptocurrency Bitcoin ($ BTC) is about to post its biggest weekly gain in 9 weeks, as it has risen 13% so far this week and seems to show no signs of slowing down. while flirting with the $ 22,000 mark.

As first reported by Livemint, the number one cryptocurrency traded at market value just over $ 22,000 before falling slightly. The market value of cryptocurrency is over 400 billion dollars and helps the cryptocurrency area close to 1 trillion dollars again.

The cryptocurrency’s price performance this week tops what it has seen in the last 9 months, with the last week being as positive as this in October last year. WazirX’s trading table commented on BTC’s price action and said:

Bitcoin crossed the $ 22,000 level on the last day for the first time in 3 weeks, as the traditional as well as crypto markets reacted positively to the assurance from the US Federal Reserve that the concern about recession has been blown out of proportion.

The exchange’s trading table added that market sentiment has also increased, with BTC’s fear and greed index rising to 20, the highest it has been in two months. The index, it is worth noting, is based on emotional behavior in the market. When fear sets in, some investors may see a buying opportunity, while greed may be a sign that the market needs to be corrected.